The Terra ecosystem is seeing a surprise resurgence, with Terra Classic (LUNC) pumping over 50% in the past 24 hours.
Meanwhile, the TerraClassicUSD (USTC) stablecoin has seen an even more dramatic rise, surging over 300% amid renewed interest.
This uptick, along with the emergence of projects like TG.Casino (TGC) in the GambleFi sector, has led some analysts to speculate about the beginning of an altcoin season.
LUNC Soars 50% as Terra Classic Labs & Binance Show Support
LUNC, the original native token of the Terra blockchain, has seen a significant price surge over the past day, trading around $0.000119 at the time of writing.
This rally stems from a series of positive developments that have revitalized the once-troubled Terra ecosystem.
A key driver of LUNC’s rise was a strategic $500,000 investment by Terra Classic Labs (TCL), a community project supporting new LUNC initiatives.
This investment saw TCL purchase 25.6 million USTC tokens, Terra’s algorithmic stablecoin, for $0.021 per token.
Given the close connection between the two cryptocurrencies, TCL’s large purchase has had a positive effect on LUNC’s price.
Additionally, Binance’s recent burn of 760 million LUNC tokens marks the 15th time the exchange has participated in LUNC burns.
There are even proposals for Binance to extend burn support to USTC, further aiding the Terra ecosystem’s revival.
USTC Suddenly Spikes 300% as Traders Speculate About Re-Peg Potential
TerraClassicUSD is the rebranded version of TerraUSD, the failed stablecoin that caused Terra’s collapse in May 2022.
As an algorithmic stablecoin, USTC aims to maintain a 1:1 peg to the US dollar.
However, the token lost this dollar peg during May’s crisis, crashing over 99%.
After months of trading below $0.015, USTC has suddenly soared over 300% in the past 24 hours to reach $0.063 – though still far below its intended $1.00 value.
This extreme price volatility conflicts with USTC’s purpose as a stable store of value.
However, community members argue that renewed interest and trading in USTC will eventually help the token regain its peg.
Trader Javon Marks even speculated that the Terra platform could soon have “massive strength” coming through it.
Regardless, USTC’s rally has lifted sentiment around Terra as investors gain confidence in the ecosystem’s recovery.
Red-Hot TG.Casino Benefits from GambleFi Hype Wave & Nears $3m Funding Milestone in Presale
As Terra-related tokens explode, all eyes are now on TG.Casino (TGC), an exciting new GambleFi project touted as the next altcoin gem.
This Ethereum-based casino aims to revolutionize online gambling by leveraging blockchain technology to offer players true anonymity, instant payouts, and zero KYC requirements.
Built exclusively on Telegram, TG.Casino provides access to hundreds of casino games, sports betting, and live dealer action right from users’ smartphones.
TGC holders even earn 25% cashback on losses and staking rewards up to 194% APY.
With major exchange listings planned post-presale, members of the Telegram community predict that TGC could be primed for a considerable price pump as adoption grows.
TG.Casino’s experienced team of industry veterans has already secured a full gambling license in Curacao and undergone a smart contract audit from Coinsult.
Over $2.9 million has been raised through TG.Casino’s presale so far, with early backers able to purchase TGC tokens at the discounted price of $0.17.
The project has even begun attracting attention from prominent crypto influencers, with trader Thorshammergems stating that TG.Casino could be a “real competitor” to Rollbit.
With the GambleFi space exploding in popularity, there’s a good chance that TG.Casino could capitalize on this trend, attracting significant attention from retail investors.
Those interested in the presale can buy TGC tokens at tg.casino using ETH or USDT.
